Vikas Rikhye

Vikas Rikhye, Real Estate Blogger

With increasing global corporate presence, the Millennium city, having close proximity to Asia’s second largest international airport as become a hub for Multinationals, now emerging as most sought after destination for hospitality industry, as there seem to be a variety of options for visitors, from budgeted bed and breakfast to five star luxury, that covers the options of meticulous service apartments, as well as lavish lifestyle guest houses. The hospitality industry in Gurgaon is taking turn, with trends matching international standards.

It is for the guests who prefer “a home away from home” concept, there is a wide range of bed and breakfast options, as with changing trend there is a steep rise in the service apartment business. As the service apartments are mainly preferred by multinational employees who come here on a limited duration or those who choose service apartments as transit accommodation, while relocating from another town. The service apartments become preferred over the budget hotel because of economy factor, being less costly. Usually the service apartment is fully furnished unit with amenities like cooking range, microwave washing machine etc, meant for guest’s usage whereas, it still has an option of availing the services from the owner of service apartment. The concept originated from USA, became increasingly popular in India from year 2000 onwards because of significant increased inflow of floating population of expatriates.

The patronage of MNCs has definitely a major cause but for steep rise in expansion of Guest houses, Budget and Luxury hotels, but other contributory factors are the following:

• Cost benefit and easy availability of land at fractional cost as compared to similar location, in close proximity to IGI Airport
• Liberal policy of Haryana Government to promote tourism
• Increase in medical tourism (Healthcare institutional growth)
• Expressway network especially KMP (Kundli-Manesar-Palwal) expressway with its connectivity with NH-8, elevates Gurgaon to an ideal location for * “Golden Triangle” tourism

* Delhi-Agra-Jaipur

According to experts, the industry has grown 300% in last five years. The optimistic trend of the hospitality industry has resulted into positive growth with presence of hotels like Leela Kempinski, Trident Hilton, Westin, Radisson, Crowne Plaza etc. Of course The Oberois with about 200 rooms hotel in 9 acres of land is latest addition.

It is understood from sources that around 1800 in three to five star category will be added on by 2012 whereas, currently over 7000 rooms are operational in Gurgaon.

The rapid growth in hospitality industry in Gurgaon would not only give boost to real state prices in Gurgaon ,but would also help in socio economic growth by creating employment and investment opportunities.